Either Edward Snowden has a fantastic imagination or the CIA has completely overstepped international norms to get at U.S. citizens’ Swiss bank accounts. As reported from tax-news: Swiss Foreign Minister Didier Burkhalter has underlined...Show More Summary
One of the many lurid details in The Guardian’s remarkable interview with NSA whistleblower Edward Snowden was his account of what initially prompted him to leak: By 2007, the CIA stationed him with diplomatic cover in Geneva, Switzerland. Show More Summary
Swiss bank secrecy is beginning to sound like jumbo shrimp. Now, the Swiss government has changed the law so banks can disclose account data. It is being hailed as a watershed event. See Switzerland to Allow Its Banks to Disclose Hidden Client Accounts. But is it? It seemed inevitable that Switzerland, once known for its [...]
New York Times DealBook: Switzerland to Allow Its Banks to Disclose Hidden Client Accounts, by Lynnley Browning: The Swiss government said on Wednesday that it would allow its banks to disclose information on American clients with hidden accounts, a watershed move intended to help resolve a long-running dispute with the...
I came across this in Le Figaro, trying to keep my hand in at French. It doesn't seem to be getting much play in the American press. But Le Figaro is pretty much this story all down the home page....
The latest scandal to hit the monarchy has exposed the existence of various Swiss bank accounts under the names of the king of Spain and other members of the royal family, with a total balance of more than 4 million euros.
Socialists in France are in shock at the revelation that the French Government's budget minister - Jerome Cahuzac (JC) - had 600,000 Euros in a secret Swiss bank account. Sacre bleu! - as they say across the Channel. I bet Gerard Depardieu...Show More Summary
The troubling political outlook for French President François Hollande darkened further April 2, after his former austerity-enforcing Budget Minister Jérôme Cahuzac admitted to possessing a secret Swiss bank account whose existence he previously denied. Show More Summary
It was only yesterday that we wrote about comparable problems to those which Russian depositors may (or may not be?) suffering in Cyprus right, this time impacting wealthy Americans and their Swiss bank accounts, where as a result of...Show More Summary
One of the most enduring myths associated with Swiss banks is the money of “unknown” origin that has been hidden in their coffers for generations. Due to a number of laws enacted in the past 15 years, Switzerland’s financial institutions...Show More Summary
Accounting Today, Swiss Bank Wegelin to Pay $58M for Conspiring to Evade Taxes Bloomberg, Wegelin Must Pay $58 Million in U.S. Tax Prosecution Forbes (Janet Novack), IRS Yanks Criminal Amnesty Deal From Taxpayers With Secret Bank Leumi Accounts Forbes (Robert W. Wood), Swiss Bank's Tax Evasion Sentence Is Really Death...
An 83-year-old Massachusetts man on Tuesday was sentenced to pay back millions in penalties and back taxes for spending years hiding his wealth from the Internal Revenue System in Swiss Bank Accounts.
Swiss banks UBS and Credit Suisse, have moved to offer ‘allocated’ gold and silver accounts to their clients, including high net worth individuals, hedge funds, other banks and institutions.
Gold and silver jumped to 4-session highs above $1674 and $31.65 per ounce respectively Wednesday lunchtime in London, gaining as new data showed the US economy unexpectedly shrinking in late 2012.
From GoldCore Swiss Banks Offer Allocated Accounts As Move To Allocated Internationally Today’s AM fix was USD 1,666.25, EUR 1,230.70, and GBP 1,057.20 per ounce. Yesterday’s AM fix was USD 1,660.50, EUR 1,235.12, and GBP 1,057.17 per ounce. Show More Summary
Chasing Dodgers: The taxmen at the Internal Revenue Service can get some records on Swiss bank accounts under a ruling Monday by U.S. District Judge William Pauley in Manhattan, and prosecutors say it is one more step toward identifying and...
Just when it seemed as if every Swiss bank account was out in the open, the IRS is on the scent again. A federal judge has approved a Summons on for secret account data about Wegelin & Co, the indicted and doomed Swiss bank. That means more names of more account holders. With Indictments, IRS [...]
(ATHENS, Greece) — Greek lawmakers voted early on Friday to investigate former finance minister George Papaconstantinou over his handling of data on Greeks with Swiss bank accounts and whether he amended the list to remove three of his relatives. Show More Summary
Unemployment in Greece has climbed even higher, reaching 26.8% in October, according to figures released today, while another lawmaker abandoned the coalition government over a Swiss Bank account scandal. The Statistical Authority said unemployment increased from 26.2% in September 2012, and marked a significant jump from the 19....
It’s no secret the IRS is taking a hard line on undisclosed foreign bank accounts. An IRS voluntary disclosure can bring accounts into compliance with finite penalties and no criminal prosecution for those who come forward before being discovered. See FBAR Penalties Just Got Even Worse. For those who don’t participate, the odds of being [...]